Cairo - Mubasher: Egypt is expecting debt interests to exceed EGP 500 billion ($28.39 billion) in the next fiscal year, according to minister of finance Amr El-Garhy.
El-Garhy told DMC that Egypt still has adequate time to repay its debts, noting that interest reached EGP 242 billion in 2016, EGP 318 billion in 2017, and will reach EGP 420 billion in 2018.
The Egyptian government hopes to reduce its debt-to-GDP ratio to 70% in four years, by raising tax revenues and reducing the budget deficit.
